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Intel (INTC) stock crashed more than 17% on Friday after the chipmaker delivered fourth-quarter earnings that beat Wall Street estimates but issued disappointing guidance for the current quarter. The selloff marked the worst single-day decline for Intel since August 2024.
Intel reported adjusted earnings of $0.15 per share on revenue of $13.7 billion for the fourth quarter, topping analyst expectations of $0.08 per share on $13.4 billion in sales. However, Intel projected first-quarter revenue between $11.7 billion and $12.7 billion with breakeven adjusted earnings per share, falling short of the Wall Street consensus for $0.05 earnings per share on $12.51 billion in revenue.